Maruti Suzuki India fell 1.67% to Rs 1,555.40 at 9:28 IST on BSE after the Reserve Bank of India said foreign share holding limit in the company has reached trigger limit.
Meanwhile, the BSE Sensex was up 50.09 points, or 0.24%, to 20,996.74.
On BSE, so far 14,000 shares were traded in the counter, compared with an average volume of 97,292 shares in the past one quarter.
The stock hit a high of Rs 1,579 and a low of Rs 1,551 so far during the day. The stock hit a 52-week high of Rs 1,864 on 9 January 2014. The stock hit a 52-week low of Rs 1,217 on 28 August 2013.
The stock had underperformed the market over the past one month till 3 March 2014, sliding 2.40% compared with the Sensex's 3.65% rise. The scrip had also underperformed the market in past one quarter, falling 4.93% as against Sensex's 0.44% rise.
The large-cap company has an equity capital of Rs 151.04 crore. Face value per share is Rs 5.
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The Reserve Bank of India (RBI) notified on Monday, 3 March 2014, that the foreign share holding in Maruti Suzuki India by Foreign Institutional Investors (FIIs) under Portfolio Investment Scheme (PIS) has reached the trigger limit of 22%. Hence, further purchases of equity shares of this company by FIIs would be allowed only after obtaining prior approval of the RBI. As on 31 December 2013, FIIs held 21.47% stake in Maruti Suzuki India.
Maruti Suzuki India's (MSIL) total sales declined 0.4% to 1.09 lakh units in February 2014 over February 2013. Domestic sales rose 1.8% to 99,758 units in February 2014 over February 2013. Exports dropped 19.5% to 9,346 units in February 2014 over February 2013.
MSIL's net profit rose 35.9% to Rs 681.10 crore on 3.1% decline in net sales to Rs 10619.70 crore in Q3 December 2013 over Q3 December 2012.
Japanese parent Suzuki Motor Corporation (SMC) holds 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 31 December 2013).
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